ARCHIVED BLOG POSTS
2015
Americans flocked to the malls this past weekend and online to purchase gifts as the holiday shopping season unofficially kicked off with Black Friday. The National Retail Federation (NRF) reported that more than 151 million people said they shopped in stores and/or online during the long weekend...
11/30/2015
The Commerce Department reported on Wednesday that sales of new single-family homes rose in October from September signaling that the housing market continues to steadily improve. New Home Sales were up 10.7% in October to an annual rate of 495,000, below the 504,000 expected. However, September ...
11/25/2015
Home prices experienced solid gains across the U.S. as the sector continues to improve. The Case Shiller 20-city Index saw home price gains rise 5.5% on an annual basis from September 2014 to September 2015, up from the 5.1% recorded in August on a year-over-year basis. However, the lofty gains c...
11/24/2015
The National Association of REALTORS® (NAR) reported on Monday that Existing Home Sales in October declined 3.5% from September to an annual rate of 5.36 million units, lower than the 5.50 million expected. Year-over-year, sales were up 3.9%. The NAR said that the WestERN region was hit the harde...
11/23/2015
Business activity in the New York State region declined for the fourth straight month in November, signaling that manufacturing activity remains weak. The New York State Index fell to 10.7 in November, below the -6.0 expected after falling in October. Within the report, it showed that the new ord...
11/16/2015
Inflation at the wholesale level remained tame in October due in part to lower costs for gasoline at the pumps, a strong dollar and weak demand from abroad. The Producer Price Index (PPI), which measures costs at the wholesale level, fell 0.4%, below the 0.1% expected. When stripping out volatile...
11/13/2015
Fannie Mae released its Home Purchase Sentiment Index (HPSI) for October showing a slight decrease from September, falling to 83.2 from 83.8. The survey revealed consumers volatile outlook on both household income improvement and mortgage interest rates which kept housing sentiment relatively fla...
11/12/2015
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Research firm CoreLogic reported that there were 55,000 completed foreclosures nationally, down from 67,000 in September 2014, a 17.6% decrease. The report went on to say that there has been a 52.8% decline since the peak of the foreclosure problems when there were 117,438 foreclosures in Septemb...
11/10/2015
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Government sponsored entities and mortgage service giants Fannie Mae and Freddie Mac reported last week that their benchmark interest rate for the standard mortgage modification program fell below 4% for the first time since the program began in January 2012. The new rate is 3.875% and has been i...
11/09/2015
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CoreLogic reports that distressed sales, which include real estate owned properties and short sales, made up 9.3% of total home sales in August. That figure is down 2.3% from August 2014 and down 0.4% from July 2015. In addition, the 9.3% share is well below the peak of 32.4% set back at the heig...
11/05/2015
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans
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